Has anyone here ever used this method??I need to apply this to a data set and cant seem to find a software to do it. Now there is some software and ofcourse I will look more but if somone has used this, it would be a great help.
For those who dont know what Monte Carlo methods are, well they are the numerical methods that utilizes sequences of random numbers to perform the simulation.
PS:I posted this here because I wasnt sure how often people visit C&A.
Ira,
I use Crystal Ball 2000 and Excel to run a monte carlo simulation. Its very easy to use as it lets you define your variables/assumptions using a number of different probability distributions and define the number of trials for your forecast. You can use single-step forecasts or run the full simulation and then analyse your foreacast charts.
You will probably need the Standard edition of the software to start with. There’s a free 7 day trial version available from Crystal Ball | Oracle
Enjoy!
Hello my dear UETIAN
I think I have used Matlab to run monte carlo simulation.
but dont remember now :D
if u like MAtlab and used it before then its matter of minutes to find out how to do it
sorry i can say nothin better then that at the moment :D